Arbeitspapier

Estimating retirement behavior with special early retirement offers

We model retirement behavior in Sweden during the 1990ies with focus on voluntary early retirement where there is an option for “buy-outs”. An employer can offer the employees generous pension programs if the employee agrees on early retirement. Earlier studies have neglected such offers, but in doing so, estimates of the individuals’ responses to financial incentives in a retirement decision are likely to be biased upward. We propose an estimation strategy where the retirement decision and the accesses to early retirement pension offers are estimated in a simultaneous equation system, yielding unbiased estimates of the model parameters. We apply the model using detailed Swedish register data. Our results indicate that the marginal effects in retirement probability w.r.t. a change in financial incentives is less pronounced if early retirement pensions are accounted for. Further, we illustrate that the early retirement probabilities would decrease by 10-30 percent if early retirement pension offers were absent.

Sprache
Englisch

Erschienen in
Series: Working Paper ; No. 2006:13

Klassifikation
Wirtschaft
Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
Labor Force and Employment, Size, and Structure
Thema
Retirement
early retirement pension
golden handshakes
occupational pension
demand for old workers
Altersgrenze
Ältere Arbeitskräfte
Altersvorsorge
Abfindung
Betriebliche Altersversorgung
Schweden

Ereignis
Geistige Schöpfung
(wer)
Eklöf, Matias
Hallberg, Daniel
Ereignis
Veröffentlichung
(wer)
Uppsala University, Department of Economics
(wo)
Uppsala
(wann)
2006

Handle
URN
urn:nbn:se:uu:diva-83087
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Eklöf, Matias
  • Hallberg, Daniel
  • Uppsala University, Department of Economics

Entstanden

  • 2006

Ähnliche Objekte (12)